JCPenney
is one of America's leading retailers,
operating throughout the United States and
Puerto Rico. We have the largest apparel and
home furnishing sites on the Internet,
jcp.com, and the nation's largest
general merchandise catalog business. Across
our integrated enterprise, JCPenney offers a
wide array of national, private and
exclusive brands which reflect the Company's
commitment to providing customers with style
and quality at smart prices.

With
more than 1,000 stores in the United States
and Puerto Rico, one of the largest apparel
and home furnishing sites on the Internet,
jcp.com, and the nation's largest general
merchandise catalog business, JCPenney is
committed to growing market share by
engaging Associates and customers, and
providing a compelling shopping experience.
With significant improvement in its
operating performance over the past several
years and continued execution of key
initiatives, JCPenney is positioning itself
to be the preferred shopping choice of
Middle America.

JCPenney's vision for growth is to be the
preferred shopping choice for Middle America.Currently, JCPenney does business with
over half of the households in America each
year. They are focused
on getting more of those customers to spend more
with them,
in addition to goingafter the other half of America.To do this, they
are executing a strategic Long-Range Plan which
consists of four integratedstrategies aimed at building a deeper,
more enduring relationship with our customers,increasing the engagement and retention
of our Associates, and delivering industry
leading
financial performance to their
shareholders.Led by a highly respected and experienced
management team with substantial expertise
across their
divisions and functions, their
Long-Range Plan focuses on compelling business
strategiesthat position JCPenney to deliver both
top and bottom-line growth to achieve
best-in-classfinancial metrics.

Their strategies
include:

Customers:

Develop an emotional connection with their
customers that is strong and enduring.

“Know their
customer" – Be the leader in
understanding their
current and potential new customers.

“Communicate with their
customer" – Effectively communicate why they
are their best shopping choice.

“Serve their
customer" – Deliver an easy, enjoyable
and exciting shopping experience that
meets orexceeds their
customers' expectations every time.

Merchandise:

Inspire their
customers with their
merchandise and services:

Be the leading
retailer in delivering style and quality
at smart prices.

Improve merchandise
relevancy by offering the “right
products" at the “right place," at the
“right time",in the “right quantities" and at
the “right price."

Associates:

Become the
preferred choice for a retail career:

Build a WINNING
TOGETHER culture – a meaningful,
challenging and exciting place to work.

Retain, attract and
develop the best people in retail,
reflecting the diversity of their
customers.

2008

JCPenney launches
American Living, the largest brand launch in
Company history.

2007

JCPenney launches its
new “Every Day Matters" brand positioning.

JCPenney
announces 2007-2011 Long Range Plan.

JCPenney opens 50
stores in one year.

2006

The launch of
JCPenney's private brand a.n.a marks the
shortest cycle time the time it takes to
come up with an idea or trend in response to
customer behavior to when it hits the
selling floor in the Company's history.

JCPenney launches the
“JCPenney Experience"–- the largest branding
campaign in the Company's history, featuring
a 15,000-square-foot virtual “pop-up" store
in Times Square in New York City.

JCPenney announces
its partnership with SEPHORA.

Hosted by Dr. Phil
and Robin McGraw and music-directed by David
Foster, “The JCPenney JAM…The Concert for
America's Kids" airs as a one-hour special
on the CBS Television Network, marking
largest project ever undertaken in America
to raise awareness about the need for access
to quality afterschool programs.